Hospitality Properties Trust Announces Preliminary Annual Meeting Results
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Hospitality Properties Trust (HPT) Enters ~$400M Sale, Leaseback Agreement with TravelCenters of America (TA)
June 2, 2015 6:28 AM EDTHospitality Properties Trust (NYSE: HPT) announced that it has entered agreements with TravelCenters of America LLC (NYSE: TA) to acquire and leaseback 30 travel centers for a total purchase price of approximately $397 million. The 30 sites include 11 sites which HPT currently owns and where HPT will acquire some or all of the improvements, land and ancillary property owned by TA. These agreements also provide that HPT will sell five travel centers to TA for approximately $45 million that will result in a gain on sale to HPT of approximately $10... More
